v3.25.2
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Mar. 31, 2025
Summary of Significant Accounting Policies [Abstract]  
Schedule of Estimated Useful Lives of Property, Plant and Equipment Depreciation and amortization are provided on the straight line method based on the estimated useful lives of the assets as follows:

Leasehold land and buildings

 

30 – 50 years

Plant and machinery

 

5 – 15 years

Furniture, fixtures and equipment

 

4 – 5 years

Motor vehicles

 

3 – 5 years

Leasehold improvements

 

Shorter of lease term or 2 – 5 years

Schedule of Disaggregates Product Sales by Business Segment and by Geography

The following table disaggregates product sales by business segment and by geography, which provides information as to the major source of revenue. See Note 16 for additional description of our reportable business segments.

 

Year ended March 31, 2023

   

Injection molded
Plastic parts

 

Electronic
Products

 

Total

Net sales

 

 

   

 

   

 

 

United States of America

 

$

1,006

 

$

11,163

 

$

12,169

PRC

 

 

13,010

 

 

14,730

 

 

27,740

United Kingdom

 

 

2

 

 

9,106

 

 

9,108

Hong Kong

 

 

1,468

 

 

5,002

 

 

6,470

Europe

 

 

131

 

 

13,159

 

 

13,290

Canada

 

 

 

 

4,699

 

 

4,699

Others

 

 

 

 

3,861

 

 

3,861

Total net sales

 

$

15,617

 

$

61,720

 

$

77,337

 

Year ended March 31, 2024

   

Injection molded
Plastic parts

 

Electronic
Products

 

Total

Net sales

 

 

   

 

   

 

 

United States of America

 

$

1,083

 

$

6,842

 

$

7,925

PRC

 

 

8,202

 

 

13,919

 

 

22,121

United Kingdom

 

 

12

 

 

11,973

 

 

11,985

Hong Kong

 

 

3,031

 

 

5,194

 

 

8,225

Europe

 

 

53

 

 

9,963

 

 

10,016

Canada

 

 

 

 

2,988

 

 

2,988

Others

 

 

11

 

 

6,097

 

 

6,108

Total net sales

 

$

12,392

 

$

56,976

 

$

69,368

 

Year ended March 31, 2025

   

Injection molded
Plastic parts

 

Electronic
Products

 

Total

Net sales

 

 

   

 

   

 

 

United States of America

 

$

967

 

$

5,114

 

$

6,081

PRC

 

 

9,279

 

 

13,169

 

 

22,448

United Kingdom

 

 

24

 

 

10,893

 

 

10,917

Hong Kong

 

 

883

 

 

6,025

 

 

6,908

Europe

 

 

44

 

 

12,502

 

 

12,546

Canada

 

 

 

 

3,882

 

 

3,882

Others

 

 

9

 

 

4,819

 

 

4,828

Total net sales

 

$

11,206

 

$

56,404

 

$

67,610

Schedule of Accounts Receivable, Net

Accounts receivable, net, as of March 31, 2024 and 2025 consisted of the following:

 

March 31,

   

2024

 

2025

   

 

 

 

 

 

 

 

Accounts receivable

 

$

12,084

 

 

$

9,938

 

Less: Allowance for credit losses

 

 

(98

)

 

 

(24

)

Accounts receivable, net

 

$

11,986

 

 

$

9,914

 

Schedule of Allowance for Credit Losses

The movement of allowance for credit losses for the years ended March 31, 2023, 2024 and 2025 was as follows:

Allowance for credit losses

 

Year ended March 31,

2023

 

2024

 

2025

Balance at beginning of the year

 

$

268

 

 

$

39

 

 

$

98

 

(Reversal of) provision for credit losses, net

 

 

(229

)

 

 

76

 

 

 

(67

)

Written off

 

 

 

 

 

(17

)

 

 

(7

)

   

$

39

 

 

$

98

 

 

$

24

 

Schedule of Basic Net Income Per Share and Diluted Net Income Per Share

Basic net income per share and diluted net income per share calculated in accordance with ASC No. 260, “Earnings Per Share”, are reconciled as follows (shares in thousands):

 

Year ended March 31,

   

2023

 

2024

 

2025

Net income attributable to Deswell Industries, Inc.

 

$

2,059

 

$

7,709

 

$

11,138

Basic weighted average common shares outstanding

 

 

15,935

 

 

15,935

 

 

15,935

Basic net income per share

 

$

0.13

 

$

0.48

 

$

0.70

 

Year ended March 31,

   

2023

 

2024

 

2025

Basic weighted average common shares outstanding

 

 

15,935

 

 

15,935

 

 

15,935

Effect of dilutive securities – Options

 

 

137

 

 

64

 

 

18

Diluted weighted average common and potential common shares outstanding

 

 

16,072

 

 

15,999

 

 

15,953

Diluted net income per share

 

$

0.13

 

$

0.48

 

$

0.70